Riksbank minutes reveal further rate cut rejected

sveriges-riksbank

Minutes from Sveriges Riksbank's October monetary policy meeting, published today (November 7), reveal a split over the decision to hold the benchmark interest rate at 1.25% on October 24.

Of the executive board's six members, four voted to hold, while two members voted for a cut, one member by 25 basis points and another by 50bp. It was deputy governor Lars Svensson who unsuccessfully pushed for the largest cut, as he believed it would help achieve inflation and unemployment targets faster.

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